Natural Rubber Price Update (April 28)

April 28, 2026, 2:31 PM

TDD-Global

3420

Guide

Highlights at a glance

On April 27, the Qingdao STR20 natural rubber price reached $2170/ton, up $45 from the previous day. Despite tighter raw material supply in Thailand due to delayed tapping and dry conditions, combined with limited output in Yunnan and Hainan, Vietnam has yet to begin full-scale production. However, rising finished goods inventories and modest downstream demand are weighing on market sentiment. While spot prices remain firm, futures show range-bound trading. With rainfall expected to improve tapping conditions soon, raw material costs may ease. Short-term optimism is fading as the market returns to seasonal patterns, suggesting a potential weakening trend ahead.

Natural Rubber Daily Report: Is This Price Movement a Rebound or a Reversal?

I. Index

On April 27th, the Qingdao STR20 price index for natural rubber was $2170/ton, up $45/ton from the previous trading day.

II. Market Analysis

Futures Market:

Spot Market

Supply Side:

International: Recent rainfall in parts of Thailand has not effectively alleviated the drought. Tapping in the northeast has been delayed until the end of this month. Currently, the overall raw material supply in Thai producing areas remains tight, with factories raising prices to secure raw materials, keeping prices high.

Vietnam's producing areas have not yet seen full-scale tapping. Only a very small number of rubber plantations in the south have started trial tapping. Large-scale tapping is expected to begin around May Day after effective rainfall.

Domestic: Rainfall in Yunnan is low, and rubber farmers are not tapping extensively. According to factories, tapping in producing areas is only at about 30%.

In Hainan's producing areas, rainy weather has disrupted tapping operations, reducing the production of fresh latex on the island.

Demand side:

It is understood that the operating rate of enterprises has fluctuated slightly recently, with most enterprises maintaining stability. Some enterprises have maintenance plans at the end of the month, which will somewhat drag down the overall operating rate. Currently, the pace of domestic market shipments is slow, finished product inventories are rising, and coupled with cost pressures, enterprises are facing increased pressure on production and sales.

Futures and Spot Price Overview

III. Market Forecast

Today, the futures market continued its range-bound trading, while the natural rubber spot market rose steadily. Rainfall expectations in producing areas are strengthening, which will be conducive to the continued rubber tapping work. Raw material prices may face the risk of falling from their high levels, suppressing the bullish sentiment in the market. Downstream demand remains at a small level, indicating only basic needs. In the short term, the previous positive speculation in the natural rubber market is gradually cooling down, returning to the seasonal characteristics of the rubber tapping season, and rubber prices may show a weak trend.

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